EXHIBIT 12
PEPSICO, INC. AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges (a)
(in millions except ratio amounts, unaudited)
12 Weeks Ended ------------------------ 3/24/01 3/18/00 --------- --------- Earnings: Income before income taxes........................... $722 $620 Unconsolidated affiliates interests, net............. (8) (4) Amortization of capitalized interest................. 2 2 Interest expense..................................... 43 47 Interest portion of rent expense (b)................. 9 7 --------- --------- Earnings available for fixed charges............... $768 $672 ========= ========= Fixed Charges: Interest expense..................................... $ 43 $ 47 Capitalized interest................................. 1 1 Interest portion of rent expense (b)................. 9 7 -------- -------- Total fixed charges................................ $ 53 $ 55 ======== ======== Ratio of Earnings to Fixed Charges................... 14.49 12.18 ======== ======== (a) Based on unrounded amounts. (b) One-third of net rent expense is the portion deemed representative of the interest factor.
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